DUBLIN--(BUSINESS WIRE)--The "3D Display Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type, Technology, and Application, and Geography" report has been added to ResearchAndMarkets.com's offering.
Growing Adoption of 3D Displays for Advertising to Support Market Growth during 2020-2027.
3D Display Market was valued at US$ 491.38 million in 2019 and is projected to reach US$ 2,253.23 million by 2027, growing at a CAGR of 22.6% from 2020 to 2027.
The trend of watching 3D movies without glasses is likely to drive the 3D display market in North America in the near future. Apart from movies, games, laptops, and handhelds are also going to be 3D-capable in North America during the forecast period.
The autostereoscopic 3D display, which eradicates the need for glasses to view 3D images, is expected to have a substantial impact on the market. Advanced applications of the 3D display in the smartphones and TVs would offer lucrative opportunities in the region. With the adoption of 3D displays in the gaming industry in the coming years, the consumer electronics segment would add innovative concepts to attract consumers.
The advancements in Virtual reality and Augmented reality are emerging gradually. The future of AR and VR technologies based on holographic display would create growth opportunities for next-generation 3D display in the consumer electronics sector. For instance, in November 2020, a report was released on Google/Amazon's 3D AR products and WIMI's 5G + MR head-mounted display products. Google, Apple, Microsoft, and WIMI have entered into the VR/AR market.
Google has integrated the AR function on its search engine, where it offers 3D models of animals and celestial, including moons, spaceships, and planets. WIMI China offers hologram visual presentation, hologram AR advertising, and hologram face recognition. Its commercial application includes Lightfield Theatre, home entertainment, commercial publishing system, and advertising display system. AR/VR can be experienced by the use of 3D display. Hence, the above factors would lead toward the growth of the global market.
In Europe, growing adoption of 3D displays in automotive industries is expected to propel the market growth during the forecast period. Major companies, such as Continental AG and Volkswagen Group, are highly investing in 3D displays. Research on head-up displays with AR technology is also in the process for better consumer experience. Further, significant expenditure on consumer electronics would positively impact the penetration rate of 3D displays. Moreover, factors, such as growing digitalization, ecommerce, social media, and retail advertising, are anticipated to boost the growth of the 3D display market in Europe.
In APAC, especially in China and South Korea, the adoption of 3D displays for advertisements is high. These countries spend heavily on digital signage systems to display various 3D advertisements. Additionally, the growth of consumer electronics and display technologies - such as 4K, LED, and OLED - is anticipated to surge the adoption of holographic display among the 3D display devices in APAC during the forecast period.
During 2020-2027, the growth outlook of 3D display in all the major geographic regions is estimated to be quite positive. However, the growth rate has been slightly affected in 2020 and is likely to be affected till mid-2021 due to the COVID-19 outbreak.
Impact of COVID-19 Pandemic on North America 3D Display Market
The US is a prominent market for 3D display owing to growing media and entertainment industry and rising focus on designing 3D enabled smartphones and TVs. The huge increase in the number of COVID-19 confirmed cases and rise in reported deaths in the country are adversely affecting both manufacturing and sales of materials associated with 3D displays.
The factory and business shutdowns across the US, Canada, and Mexico are hindering the adoption of 3D display. North America is a home to large number of manufacturing and technology companies, and thus the impact of the COVID-19 outbreak is anticipated to be quite severe till mid-2021. The region is expecting market recovery and economic improvement with the start of the COVID-19 vaccination.
Key Market Dynamics
- Potential Applications of Advanced 3D Display Technologies in End-User Industries
- Issues regarding 3D Display Technologies
- Growing Number of Industry Partnerships to Boost the Demand
- Holographic 3D Display Systems to Drive the Future Growth
- AU Optronics Corp.
- Innolux Corporation
- LG Electronics
- Mitsubishi Electric Corporation
- Panasonic Corporation
- Samsung Group
- Sharp Corporation
- Looking Glass Factory Inc.
- Light Field Lab, Inc.
- Leia Inc.
- Sony Corporation
- Toshiba Corporation
- Fujifilm Corporation
For more information about this report visit https://www.researchandmarkets.com/r/6v0hvd